St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-03
On the Chicago Board of Trade the Pre-
ponderating Interest Settled in
the Pork Pit.
However, There Was Reasonably Fair
Renewal of Speculative Interest
in Wheat.
The Feeling Quite Strong Late in
the Day, and Bidding
Lively.
transactions In the Financial Circles
of Wall Street, General
Quotations.
Special to the GloDe.

CHICAGO, March "A committee appointed
by the board of trustees was impanelled
to-day to look into the corner in pork and to
ascertain, if possible, the names of the in
dividuals engaged in the great deal. AS is
usual, the committee failed to connect, but 1t
got even by placing all futures in pork at
SIS Wheat was very strong all the session.
II opened at 7sc and advanced
cent The clearances AT the
seaport, 521, 900 bushels, were the chief bull
influence. In the last four weeks the exports
have exceeded the receipts in New York l.
700 900 bushels. During the same time stocks
in New York decreased 5, 120,0 600 bushels,
showing weekly local consumption of 370,-
600 bushels. Applying this test to last week S
receipts and shipments, it is plain that the
clearances of ne past TWO days nave not
been heretofore deducted from the stocks.
The marginal or corner rule has been very
seldom invoked. 1t was i'll the corn corner
that was run a few years ago by deacon" j..
Il. Hobbs. John b. Lyon appealed to it then
aud it resulted in breaking the corner and
running the New Workers, Boynton
and others, who were running the
McGeochs pork deal in 1SS0-Sl, and also
against the Armour wheat deal in 1882. 1t
did not affect either Of those corners. The
provision pit opened this morning with
fluctuations as wide as ever. The first broker
who ventured to sell May pork did it at
$3.50. Nobody took the risk after that until
SIS was bid and the next one at $40. Not
1000 barrels changed hands between these
figures. The interest, however, was better
illustrated by the crowd that pork drew.
There were as many brokers as the pit would
hold watching, and from the public gallery
there were all sorts of faces drawn by the
newspaper talk of the pork corner, all riveted
on the little circle where hog product is
traded in.
THE ROUTINE REPORT.
CHICAGO, March 1.-The preponderatingi in
interest in speculation continues to center in
pork, though there was q renewed specula-
ton i'll wheat, and during the afternoon the
wheat pit had more than its proportion of
operators. The wheat market opened firm at
14c higher, owing to the large clearanceS
from the seaboard. which aggregate 522. 900
bu. The quantity of wheat on ocean passage
showed decrease of $4,000 blu. Colder
weather was also predicted, which tended to
encourage buyers. The market advanced
steadily from the opening to 79ss0791ac for
May delivery and closed at 791s@7914c, or
114c higher than yesterday. The feeling was
quite strong in the latest trading, OPP
orators bidding for large quantities and
considerable number of shorts covered
their sales. The receipts at eleven points
were 245.000 bushels. There was only fair
degree of activity in corn, but the market
ruled firm. The receipts continue light and
the shipping demand moderate. May deliv-
cry began at 3S5sc, rose to 39c. held steady,
then rose to 39$sc on good buying, fell back
and closed for the day at 390391sc. Oats
were dull and developed no special change.
The receipts of live hogs at the yards were
larger and prices lower. The stocks of pro-
visions were larger than generally antici-
pated and the receipts of products greatly
exceeded the shipments, yet in the face of
these features the mess pork market was
held up firmly. The starting price for May
was S.40 from which point it advanced
ctn iIv- TO foil off fn 0Qr, Oln cod
at that figure. On the report that the directors
of the board of trade had been called to name
price for calling margins, more quiet
prevailed, operators preferring to await the
action the directors might take. The demand
on shipping account was light, buyers refus-
ing to meet the advance. Lard closed &c per
100 lbs lower than on yesterday and short
ribs were 15c per 100 lbs lower.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2, March, 721zc, closing at 1898
@T314c; May. 7Sc, closing at 791a@T914c; June,
7914c, closing at S014c; July, S014c, closing at
Sl1s@S114c. Corn-No. 9. March, $3.50, clos
June, 395Sc, closing at 4OAc: july, 40Ac,
closing at 4l14c. Oats-No. 2, March, 23s4c,
closing at 23s4c; May, 2Shc, closing at
2S5sc; June, 2Ss4c, closing at 2S5ac. Mess
pork, per barrel, March, $3.50, closing at
SlS.70; May, $3.50, closing at $500; June,
March, $685.. closing at ST: May. $7.1O,
closing at S7.121a; June, S7.15, closing at
S7.17%. Short ribs per 100 pounds-March,
$765, closing at ST 80; May, $7.75, closing
at $7.7O; June, S7.771S, closing at S7.75.
Cash quotations were as follows: Flour duh
and unchanged. Wheau-No. 2 spring, 733s
@T6c; No. spring, 7O@71c; No. 2 red, 7S1sc.
Corn-No. 2, 34@36Ac. Oats-No. 2, 2339c;
Rye-No. 2, 53c. Barley-No. 2, 49@52c.
Flax seed-No. \, S1.Os. Prime timothy seed.
Sl.S4. Mess pork, per Dbl, $1s.50@1S.6O. Lard,
per 100 lbs, 81. Short ribs, sides, loose, $3.50
@T.65; dry sailed shoulders, boxed, $60L6 25;
short clear sides, boxed, SS.059S.10. Whisky,
dlstillers' finished goods, per gal, Sl.lS.
Sugars, cut loaf, 614@67sc: granulated, &c;
standard a. 51s@55sc. Receipts-Flour,
27,O0O bbls; wheat, $4,000 blu; corn, IT'S OOc
blu: oats, $4,000 blu; rye. 1000 bu; barley
$4,000 bu. Shipments-Fiour, 10000 bbls;
wheat, $4,000 blu; corn. AZ, 600 bu: oats. 81, 900
bu: rye, 1000 bI: barley, 10000 blu. On the
produce exchange to-day the butter market
was firm; creamery, 231aG30c per ID dairy
227aQ26c per d. Eggs, 141a015c per doz.